THE AMERICAN PROSPECT: Greenspan Was the Creator of His Own Disaster

Alan Greenspan actively shaped financial markets to prioritize speed and innovation, using Federal Reserve power to foster a system that ultimately became more fragile, contributing to the 2008 crisis. His belief in government support for financial innovation, rather than true libertarian principles, led to unchecked growth in derivatives and other complex instruments, which played a key role in the economic crash. Greenspan's approach of allowing markets to develop freely while relying on government intervention during downturns created a cycle of instability and inequality.

Read at Economic Security Project

All articles from 6 September 2026. Summaries are AI-generated and may contain errors; the linked article is the authority.